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Calculate gain or loss on the sale

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Prinkle Corporation purchased equipment for $60,000 on January 1, 2016. On December 31, 2018, the equipment was sold for $28,000. Accumulated Depreciation as of December 31, 2018 was $31,000.

Calculate gain or loss on the sale.

A) $1,000 gain

B) $1,000 loss

C) $31,000 loss

D) no gain no loss

Reference no: EM131774551

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